Issue link: http://resourceworld.uberflip.com/i/661612
A P R I L / M A Y 2 0 1 6 www.resourceworld.com 27 the 9A-5 well began January 7 and had reached a total depth of 583 metres before technical difficulties related to wellbore stability and lost circulation were encoun- tered. In consultation with its technical team, the company elected to redesign the casing configuration and drill process. The second well was spudded January 29 and reached a target depth of 740 metres in eight days without incident, including 1.5 days to core and log. A total of 27 metres of core was cut with full recovery through all target zones. Saturn reported that within the tar- get Herald and Yeoman formations, three separate intercepts displayed pronounced and uniform oil staining and fluorescence under black light. These intercepts were subsequently cross-referenced to match down-hole resistivity logs and porosity logs greater than 12%. The discovery was made in three separate formations: the Herald, the Upper Yeoman and the Lower Yeoman for a cumulative potential reservoir thickness of 8 metres. The presence of these stacked pay zones supports the company's exploration model of a stacked target, 4-way closed anti- clinal potential oil reservoir. Drill core has been sent to Core Labs of Estevan, Saskatchewan where a full analysis of the discovery, including per- meability, porosity, oil saturation and API, will determine a comprehensive completions program. Results are expected mid-February following which the com- pany will announce a completions plan that will include test production and an additional well site to further assess the 480-acre anticlinal target which was the focus of this drill program. This additional well will aid the com- pany in evaluating future vertical and/or horizontal wells in order to maximize the exploitation of known reservoirs, as well as to further assess additional undrilled targets on the 120,000 acre Bannock Creek Project. "This discovery is a true historical mile- stone for northeastern Saskatchewan," said Stan Szary, CEO of Saturn Minerals. "The Northeastern Williston Basin is a wild- cat driller's paradise, and we've shown that with the discovery of oil in the very first well that has successfully penetrated beyond 650 metres in this vicinity. I'm proud of our team and believe that this is the start of a very significant update to the entire geological map of this part of the province." Saturn identified the well location from a 2D seismic program, which was designed to identify and confirm closures for poten- tial light oil traps. The closure of this structure compared very favourably with existing producing light oil pools to the south of the Bannock Creek Project and provided validation of Saturn's exploration model. n 11054_GNWT_ITI_4C_RESOURCE_WORLD_1/2PG_ISLAND_FINAL Canada's Northwest Territories is home to world-class resources. Come and see for yourself. • New incentive programs to encourage mineral finds • Government pathfinder positions to guide explorers through the regulatory process • New investments in highways, winter roads and power • Robust mine training programs for northern residents • Mineral Development Strategy to ensure continued development of mineral resources NWTGEOSCIENCE.CA E-mail: ntgs@gov.nt.ca T: 867-767-9211 Ext.63469 NWTMINING.COM E-mail: mining@gov.nt.ca T: 867-767-9209 NWTPETROLEUM.COM E-mail: petroleum@gov.nt.ca T: 867-777-7475 NEW DISCOVERIES